Five Star Bancorp (NASDAQ:FSBC) Coverage Initiated at Raymond James

Raymond James assumed coverage on shares of Five Star Bancorp (NASDAQ:FSBC) in a report released on Thursday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $38.00 price objective on the stock.

Separately, Keefe, Bruyette & Woods increased their price objective on shares of Five Star Bancorp from $33.00 to $37.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

Five Star Bancorp Trading Up 0.7 %

Shares of FSBC opened at $30.39 on Thursday. The business’s 50 day moving average is $31.95 and its 200 day moving average is $28.69. Five Star Bancorp has a 12-month low of $21.10 and a 12-month high of $35.13. The company has a market capitalization of $647.88 million, a PE ratio of 13.33 and a beta of 0.45.

Five Star Bancorp (NASDAQ:FSBC) last released its quarterly earnings data on Monday, October 28th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.02). Five Star Bancorp had a net margin of 21.35% and a return on equity of 12.80%. The company had revenue of $54.05 million for the quarter. During the same quarter in the prior year, the firm posted $0.64 EPS. Equities research analysts predict that Five Star Bancorp will post 2.19 earnings per share for the current year.

Five Star Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Monday, November 4th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Monday, November 4th. Five Star Bancorp’s payout ratio is 35.09%.

Insiders Place Their Bets

In other news, SVP Michael Eugene Lee sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $30.67, for a total value of $46,005.00. Following the completion of the sale, the senior vice president now directly owns 36,765 shares of the company’s stock, valued at $1,127,582.55. This trade represents a 3.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 25.57% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. American Century Companies Inc. lifted its stake in shares of Five Star Bancorp by 116.5% during the 2nd quarter. American Century Companies Inc. now owns 111,711 shares of the company’s stock worth $2,642,000 after acquiring an additional 60,118 shares during the last quarter. Davis Asset Management L.P. increased its stake in Five Star Bancorp by 3.4% in the second quarter. Davis Asset Management L.P. now owns 1,511,500 shares of the company’s stock worth $35,747,000 after purchasing an additional 50,000 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Five Star Bancorp by 201.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 134,449 shares of the company’s stock worth $3,997,000 after purchasing an additional 89,834 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Five Star Bancorp by 11.3% during the second quarter. Bank of New York Mellon Corp now owns 88,589 shares of the company’s stock valued at $2,095,000 after purchasing an additional 8,991 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of Five Star Bancorp by 128.7% in the second quarter. Renaissance Technologies LLC now owns 41,400 shares of the company’s stock worth $979,000 after purchasing an additional 23,300 shares during the last quarter. Institutional investors own 46.94% of the company’s stock.

Five Star Bancorp Company Profile

Five Star Bancorp operates as the bank holding company for Five Star Bank that provides a range of banking products and services to small and medium-sized businesses, professionals, and individuals in Northern California. It accepts various deposits, such as money market accounts, noninterest-bearing and interest checking accounts, savings accounts, term certificate accounts, and time deposits.